African startups are making significant progress. In this context, the digital economy platform FollowICT highlights the top startup news across Africa over the past week.
UfarmX Facilitates $6.8 Million in Agricultural Commerce Across Africa, Plans Kenya Expansion
Nigerian agritech startup UfarmX has facilitated more than $6.8 million in agricultural commerce across Nigeria, Senegal, and Liberia, while preparing to expand into Kenya in the fourth quarter of this year. The company uses blockchain technology to empower smallholder farmers, particularly those who are unbanked or underserved by traditional financial institutions, by improving access to agricultural inputs, credit, markets, and operational data.
The UfarmX platform connects farmers with quality agricultural inputs, often through credit supported by a transparent blockchain-based ledger. It also helps farmers access markets after harvest and provides the data required to scale their operations. The startup is now active across three African markets, working with more than 17,000 credit-scored farmers and a growing network of vetted retail partners. Its insured retailer channel has recorded a net default rate of just 1.17%, without requiring collateral.
According to Alexander Zanders, CEO of UfarmX, the company initially used direct lending to prove its model before shifting toward a retailer-led approach, where local retailers extend credit to farmers using UfarmX’s data without requiring banks to be directly involved. The company plans to launch a credit-scoring API later this year, allowing banks and financial institutions to process agricultural loan applications using UfarmX’s underwriting infrastructure. The company is also preparing for its Kenya expansion and is engaging banks, development finance institutions, insurers, and agricultural input producers ahead of the API launch.
Instarc Raises $1.43 Million to Bring Cloud-Native Compliance Technology to South Africa
Tallinn-headquartered regulatory technology company Instarc has raised $1.43 million to accelerate the commercial rollout of its cloud-native compliance platform for regulated businesses in South Africa. The platform is designed to help financial and accountable institutions manage regulatory requirements while remaining flexible enough to adapt to changing compliance regimes across different markets.
HFO Investments, the investment arm of an Africa- and internationally focused family office, joined the transaction as a strategic investor, with Athena Capital and Option 3 Capital providing advisory support. Founded by James McKeown and Mesut Mercan, Instarc provides tools for customer onboarding, identity and ownership verification, configurable workflows, document management, retrievable audit records, and API integrations with existing institutional systems.
The company is positioning its technology as more than a standalone compliance tool, instead embedding compliance capabilities into the wider operating model of regulated institutions. This approach is designed to allow organisations to adjust their processes as regulations change without rebuilding their underlying technology. Jonathan Revell, CEO of Instarc and a former Managing Director at Morgan Stanley, said the company aims to help regulated organisations onboard customers faster, reduce operational friction, and reach revenue sooner.
All On and Energise Africa Invest $4 Million in Maskh Nigeria Solar Mini-Grid Project
All On and Energise Africa have invested $4 million in Maskh Nigeria Limited to develop solar-powered mini-grids across 19 communities in Nigeria’s Jigawa and Bauchi states. The project is designed to provide electricity connections to households, businesses, public institutions, and productive-use customers that currently lack dependable power supplies.
The investment was made through All On’s Demand Aggregation for Renewable Energy Technology programme and is expected to reach nearly 100,000 people. Maskh Nigeria, a locally owned infrastructure and renewable energy company, will develop and operate the mini-grids, expanding access to reliable electricity in underserved northern communities.
The project has also received results-based financing from Nigeria’s Rural Electrification Agency, linking part of the funding to verified delivery of infrastructure and electricity connections. The financing combines local impact capital with funds raised from individual investors through Energise Africa, a UK-based platform that channels investment into clean-energy businesses across sub-Saharan Africa and other emerging markets.
ChipMango Raises $1.9 Million Seed Round to Expand Semiconductor Engineering Across Africa
California-headquartered semiconductor technology company ChipMango has raised $1.9 million in seed funding to expand its commercial engineering services and workforce development platform across Africa, the United States, and Europe. The round was led by Atlantica Ventures, with participation from DFS Labs, Kaleo Ventures, Madica, Trilinear Technologies, Malta Ventures, and other investors.
Founded in 2022 by Ola Fadiran and Jovan Andjelich, ChipMango combines semiconductor training with commercial chip-design work. Rather than manufacturing chips, the company focuses on design and verification services, deploying engineers on projects that require additional technical capacity before designs move to fabrication facilities. Its model addresses the shortage of specialised semiconductor engineering talent while creating commercial opportunities for African engineers.
The new funding will support the company’s engineering and product-development teams, new commercial engagements, its AI-enabled learning platform, and the development of edge-AI and intelligent-sensor technologies. ChipMango also plans to establish a European design centre in Malta with Malta Ventures and support initiatives in Kigali, Rwanda, focused on semiconductor capabilities, workforce development, and AI infrastructure.
Nomba Secures $3 Million Debt Facility to Expand Africa–Asia Payments From the DRC
Nigerian fintech Nomba has secured a $3 million debt facility from CardinalStone Finance Company Limited to expand cross-border payments infrastructure connecting businesses in Central Africa with trading partners in Asia. The facility will provide additional US-dollar liquidity through Nomba’s banking relationships in Hong Kong and Singapore.
The company plans to use the new liquidity to support more transactions across currencies, improve settlement capacity, and deepen payment corridors serving businesses in the Democratic Republic of the Congo (DRC). Nomba is positioning its DRC operation as a settlement hub for trade between Central African businesses and Asian markets, targeting the liquidity and settlement challenges that can slow cross-border commerce.
Nomba enables businesses to collect payments online or through point-of-sale terminals, accept card and mobile-money payments, and pay suppliers in Asia. The new debt facility is expected to strengthen the company’s ability to support businesses operating across multiple markets and currencies while expanding payment infrastructure linking African companies with international trading partners.
Nigerian Startups Trade Lenda and AirSmat Secure $450,000 From Village Capital
Nigerian startups Trade Lenda and AirSmat have secured a combined $450,000 investment from Village Capital’s Africa Ecosystem Catalysts Facility, marking the fund’s entry into Nigeria after backing two Ghanaian startups several months earlier. Africa Fintech Foundry sourced both investments for Village Capital.
Founded by Adeshina Adewumi, Trade Lenda is a digital financial services platform offering business loans, embedded finance, and Sharia-compliant financing to SMEs and farmers. The company says it has supported more than 260,000 customers across five Nigerian geopolitical zones, with women representing 66% of its users.
AirSmat, founded by Soji Sanyaolu, is a climate-tech startup that converts agricultural waste into biochar-based fertiliser. The model aims to improve soil health while creating carbon-market opportunities for farmers. AirSmat will use the investment to complete and commission a commercial factory and expand its production capacity, linking agricultural waste management with improved farming outcomes and new economic opportunities.
Ghana’s Seevcash Raises $333,000 From Stellar to Expand Cross-Border Payments
Ghanaian fintech Seevcash has raised $333,000 through the Stellar Community Fund and affiliated ecosystem programmes, bringing the company’s total support from the Stellar ecosystem to four awards. Founded in 2022 by Dawuda Iddrisu, Charles Owusu, and Cosmos Appiah, the company is headquartered in Accra, with a US incorporation.
Seevcash provides low-cost cross-border payments and peer-to-peer money transfers, primarily serving African diaspora communities. The platform enables users to send and request money and manage funds across borders using blockchain infrastructure, including the Stellar network. The company says it currently has more than 25,000 users across five countries.
Alongside the funding, Seevcash has launched a Visa card that allows users to spend their funds online and in person wherever Visa is accepted. The card expands the ways customers can use money held on the platform and builds on the company’s partnership with MoneyGram, as Seevcash continues to develop a broader cross-border financial infrastructure for African users.
Mamor Capital Ventures Secures $18.5 Million First Close to Back South African Tech Startups
South African black women-owned and managed venture capital firm Mamor Capital Ventures has reached a ZAR300 million ($18.5 million) first close for its first fund, enabling it to begin investing in post-revenue South African technology companies. The firm targets scalable businesses using technology to expand access to digital and financial services and increase economic participation.
The first close follows more than three years of fundraising and is anchored by the Public Investment Corporation (PIC), with additional commitments from the High Impact Seed Fund of Funds managed by the SA SME Fund, the Technology Innovation Agency (TIA), and the Small Enterprise Development and Finance Agency. Mamor Capital Ventures plans to continue fundraising toward a target fund size of ZAR550 million ($34 million).
The fund will focus on companies with strong fundamentals and the potential to deliver measurable economic impact alongside sustainable investor returns. Its investment mandate includes financial access, digital infrastructure, and other barriers to economic participation. Mamokete Ramathe, founder and CEO of Mamor Capital, said the first close represents an important milestone and a strong endorsement of the firm’s strategy, while PIC acting chief investment officer Leon Smit said the investment supports transformation while providing exposure to the growth potential of South Africa’s venture capital market.